Globalization has become a very familiar term in recent years and almost a byword for both the right and the left in their analyses of the international economy and polity. In both political and academic discussions, the assumption is all too often made that a process of globalization is well under way in the contemporary world and that this represents a qualitatively new stage in the development of international capitalism. But exactly how should we characterize the present state of the international political economy? Is there such a thing as a genuinely global economy? In this volume, the authors question the notion of globalization as a new stage in international economic, political and cultural relationships. They assess the present configuration of international economic tendencies, the policy implications of these tendencies, and the direction the international economy might follow in the future. Particular attention is paid to the way in which the international economy is governed, and to the interrelationship between domestic economic policy and international processes. The authors argue that there are still opportunities for the development of governance mechanisms at the level of the international economy that neither undermine national governance nor the creation of national strategies for international control. This work is a timely intervention into current discussions about the nature and prospects of globalization; the book has far-reaching implications which should be of interest to students and academics, as well as to journalists and policy makers.